我们预计公司 2024-2026 年营业收入分别为 25.20/30.25/35.60 亿元，归母净利润分别为 2.77/3.40/4.16 亿元，对应 EPS 分别为 0.32/0.40/0.48 元。结合目前行业阶段和公司增速及壁垒，给予公司 2024 年动态 PE 45-50 倍，6 个月合 理价值区间为 14.51-16.12 元，首次覆盖给予"优于大市"评级。 | --- | --- | --- | --- | --- | |----------------------|-------|-------|-------|-------| | 现金流量表（百万元） | 2023 | 2024E | 2025E | 2026E | | 净利润 | -206 | 277 | 340 | 416 | | 少数股东损益 | 10 | 9 | 8 | 6 | | 非现金支出 | 472 | 172 | 176 | 177 | | 非经营收益 | -144 | -179 | -147 | -194 | | 营运资金变动 | 112 | -271 | -299 | -263 | | 经营活动现金流 | 245 | 8 ...

核查意见 华泰联合证券有限责任公司 关于国投智能（厦门）信息股份有限公司向特定对象发行 股票限售股份上市流通事项的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作为国 投智能（厦门）信息股份有限公司（以下简称"国投智能"或"公司"）向特定对象 发行股票并在创业板上市持续督导阶段的保荐人，根据《证券发行上市保荐业务 管理办法》、《深圳证券交易所创业板股票上市规则（2024 年修订）》及《深圳证 券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等有关规 定，对国投智能向特定对象发行股份限售股份持有人持有的限售股份将上市流通 情况进行了认真、审慎的核查，并发表本核查意见，具体情况如下： 一、向特定对象发行股份概况及股本变动情况 国投智能于 2022 年 8 月收到中国证券监督管理委员会（以下简称"中国证监 会"）出具的《关于同意厦门市美亚柏科信息股份有限公司向特定对象发行股票 注册的批复》（证监许可[2022]1918 号）。经前述文件同意，公司向 1 名特定对象 发行 55,670,501 股人民币普通股（A 股），新增股份于 2022 年 12 月 28 日在深圳 ...

证券代码：300188 证券简称： 国投智能 公告编号：2024-39 国投智能（厦门）信息股份有限公司 关于向特定对象发行股票解除限售上市流通的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 一、本次解除限售股份的基本情况 （一）本次申请解除限售股份的发行情况 经中国证券监督管理委员会出具的《关于同意厦门市美亚柏科信息股份 有限公司向特定对象发行股票注册的批复》（证监许可〔2022〕1918 号）， 并经深圳证券交易所同意，公司向特定对象发行人民币普通股（A 股） 55,670,501 股，每股面值为人民币 1.00 元，发行价格为 12.17 元/股，募集 资金总额为 677,509,997.17 元，扣除总发行费用 2,862,732.77 元（不含税） 后，实际募集资金净额为 674,647,264.40 元。上述资金到位情况已经中证天 通会计师事务所（特殊普通合伙）于 2022 年 12 月 14 日出具的《验证报告》 1. 国投智能（厦门）信息股份有限公司（以下简称"公司"）本次解除 限售的股份为公司向特定对象发行的股份，解 ...

Summary of Conference Call for Guotou Intelligent Company Overview - Guotou Intelligent reported an increase in revenue and profit for the first half of 2024 compared to the same period in 2023, despite facing pressure on new orders due to reduced customer budgets and intensified competition [1][2] - The company maintains a strong position in the electronic data forensics sector, with new orders remaining stable compared to last year [1] Key Business Segments Electronic Data Forensics - The demand for equipment upgrades in electronic data forensics is being driven by customer needs, particularly for computer and mobile device forensics [1] - The newly launched second-generation Wi-Fi box has significantly improved forensics performance, reportedly tripling the speed compared to similar products [1] Public Safety Big Data - New orders in public safety big data have been impacted by customer budget constraints, with overall new orders declining compared to last year [2] - The company is leveraging its dual capabilities in front-end forensics equipment and back-end big data analysis to explore new business directions such as smart emergency response and smart transportation [2] Digital Governance and Rural Revitalization - The digital governance segment is experiencing delays in revenue recognition due to budget constraints, while rural revitalization efforts are progressing smoothly [2][4] AI Strategy - The company has launched an "All in AI" strategy, with over 30 projects in collaboration with Guotou Group focusing on AI applications in security [5] - The investment department is pursuing several acquisition projects, with some already in the valuation stage [5][11] Financial Performance - The company anticipates improved gross margins compared to last year, despite challenges from reduced government budgets and increased competition [14] - The gross margin for both forensics and big data segments has seen a decline due to competitive pressures, but is expected to stabilize [14] Market Outlook - The second half of 2024 is expected to bring clearer construction trends, particularly following a 5G platform meeting scheduled for July [9] - The company is preparing for a potential increase in business opportunities as fiscal budgets become clearer [9] Challenges and Risks - The company faces challenges related to customer budget constraints, which could impact gross margins and overall profitability [36] - There are concerns regarding the collection of accounts receivable, which could affect financial performance if not managed effectively [37] International Expansion - Guotou Intelligent is actively pursuing international markets, particularly in electronic data forensics and big data, with several million-dollar orders already signed for overseas projects [29][30] - The company is cautious about overseas sales due to regulatory constraints and the need for brand recognition in new markets [31][32] Conclusion - Guotou Intelligent is entering a growth phase, supported by a solid order backlog and strategic collaborations with Guotou Group [40] - The company invites investors to visit its facilities to gain a deeper understanding of its capabilities and offerings [41][42]

本次的交流我会跟大家先介绍一下公司2024年上半年截止当前的一个基本情况2024年公司是加强了在手订单的转换收入以及利润端都在2023年同期增长但是受客户预算下降的影响行业的竞争加剧公司整体新签订单还是稍微有所沉压的 从新鲜订单的结构上来分析的话是个板块当中电子数据取证板块因为有设备更新的需求一直没有得到有效的满足所以今年的话各地客户会根据各地资金的情况陆续的在推进一些计算机手机取证的设备的更新采购公司新发布的第二代WiFi盒子取证性能也有大幅度的提升 实数提数是较同类产品应该是有提出三倍以上像它可以和我们的手机大师手机塔还有取证航母等无线连接的使用解决了原有WiFi取证不稳定备用机设置防锁等问题所以也是受到客户的好评在这方面的关注度也比较高所以整体来看取证这个板块的新签订单和去年是相当的公司在取证行业的龙头地位还是比较稳固的 那么就是在公务安全大数据这一块的话受客户的这个 新签订单方面受客户的预算影响冲击还是比较大的除了像纪委监委这样的一些业务稳中有声以外其他的业务以及总体的新签订单是较去年同期有所下降但是公司作为唯一一家既有前端取证装备又有后端大数据分析能力的综合产商公司将结合两大基石业务的优势积极的去拓 ...

Summary of Conference Call Company Overview - The conference call featured a presentation by the CEO of Guotou Intelligent, Dong Diye, discussing the company's recent developments [1] Key Points and Arguments - The call began with an introduction from the company leadership, setting the stage for a discussion on the company's current status and future outlook [1] Other Important Content - The format of the call included a presentation followed by a Q&A session, indicating an interactive approach to investor engagement [1]

Group 1: Safety Risks of Drones - Flight safety risks: Increased drone numbers complicate air traffic, leading to potential collisions with other aircraft, buildings, or people, especially in densely populated areas [1] - Data security risks: Drones collect and transmit large amounts of data, which, if not properly protected, can be vulnerable to hacking and misuse [2] - Privacy security risks: Drones equipped with high-definition cameras can infringe on personal privacy if used for illegal surveillance [2] - Cybersecurity risks: Drones face threats such as hijacking attacks and penetration testing [2] - Public safety risks: Drones may be used for criminal activities, including surveillance of sensitive facilities and dropping prohibited items [2] Group 2: National Standards and Policies - The national standard "Safety Requirements for Civil Unmanned Aircraft Systems" (GB 42590-2023) provides mandatory guidelines for design, production, and compliance testing to ensure safe usage [2] - The "Interim Regulations on the Flight Management of Unmanned Aerial Vehicles" aims to regulate UAV flights and related activities, promoting a healthy and orderly development of the UAV industry [2] Group 3: Technical Measures for Safety Control - Key technical measures include detection and countermeasures, utilizing technologies such as radar detection, radio signal monitoring, and optical identification [3] - Countermeasures involve methods like destruction, interception, capture, and deception control [3] Group 4: Market Demand and Clientele - New market demands in drone safety control focus on improving identification and tracking technology to prevent illegal intrusions and disturbances [3] - Key client groups include government agencies, commercial enterprises, and public facility management units [3] Group 5: Challenges in Urban Environments - External threats to drone safety include susceptibility to hacking during mission execution, especially in complex urban environments [4] - Inadequate operational regulations for drone pilots can lead to loss of control due to signal interruptions or overload [4] - The current drone management mechanism is not well-established, lacking clear rules for drone functions and operations [4] - Data storage and transmission issues can hinder effective drone usage and urban management efficiency [4] - Technical limitations of drone detection systems can lead to false alarms and difficulty distinguishing between legal and illegal drone use [4] Group 6: "Low Altitude Bright Project" - The "Low Altitude Bright Project" aims to enhance the existing "Bright Project" by establishing a unified platform for drone inspection and regulation, contributing to a safer low-altitude airspace environment [4]

国投智能（厦门）信息股份有限公司 投资者关系活动记录表 编号：2024-05-01 特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 现场参观 投资者关系 其他：由厦门证监局、厦门上市公司协会与深圳市全景网络有限 活动类别 公司联合举办的“厦门辖区上市公司 2023 年年报业绩说明会暨投 资者网上集体接待日活动” 参与单位名称及 线上参与“厦门辖区上市公司 2023 年年报业绩说明会暨投资者网 人员姓名 上集体接待日活动”公司交流的投资者 时间 2024年5月16日 14:00-17:00 主办地点 全景网“投资者关系互动平台”（https://ir.p5w.net） 董事长：滕达先生 董事/总经理：申强先生 上市公司 独立董事：郝叶力女士 接待人员姓名 财务总监：张乃军先生 董事会秘书：高碧梅女士 为进一步加强与投资者的互动交流，便于广大投资者更深入全 面地了解公司情况，国投智能（厦门）信息股份有限公司（以下简 ...

关于国投智能（厦门）信息股份有限公司 2023 年年度股东大会的 法律意见书 http://www.tenetlaw.com 天衡联合律师事务所 Tenet & Partners 中国﹒厦门 厦禾路 666 号海翼大厦 A 幢 16-18 楼 电话：86·592·5883666 传真：86·592·5881668 厦门·上海·福州·泉州·龙岩 http://www.tenetlaw.com 关于国投智能（厦门）信息股份有限公司 2023 年年度股东大会的法律意见书 （2024）天衡（意）字第 075 号 致：国投智能（厦门）信息股份有限公司 天衡联合律师事务所 Tenet & Partners 中国﹒厦门 厦禾路 666 号海翼大厦 A 幢 16-18 楼 厦门·上海·福州·泉州·龙岩 国投智能（厦门）信息股份有限公司（以下简称"公司"）2023 年年度股东 大会（以下简称"本次股东大会"）于 2024 年 5 月 10 日召开。福建天衡联合律 师事务所（以下简称"本所"）接受公司的委托，指派张霞律师、廖明骐律师（以 下简称"本所律师"）出席本次股东大会，根据《中华人民共和国公司法》（以 下简称"《公司法》" ...

证券代码：300188 证券简称： 国投智能 公告编号：2024-33 国投智能（厦门）信息股份有限公司 2023 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1.本次股东大会未出现否决议案的情形。 2.本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1.会议召开方式：本次股东大会采用现场会议与网络投票相结合 的方式召开。 2.会议召开时间： （1）现场会议时间：2024年5月10日（星期五）下午15:00开始。 （2）网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为： 2024 年 5 月 10 日（现场股东大会召开当日）上午 9:15-9:25、 9:30-11:30 和下午 13:00-15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2024 年 5 月 10 日（现场股东大会召开当日）上午 9:15 至下午 15:00 期 间的任意时间。 1 3.会议召开地点：厦门软件园二期观日路 12 号国投智能大厦 2109 会议室。 4．会议召集人和主持人：本次股 ...